Ann: LGL enters Ballarat sale agreement , page-16

hobo-jo

what you are missing is that existing shareholders will be voting on the method used to allocate new shares and it's unlikely they will vote against their best interests - probably vote for a rights issue

the mine is going onto care and maintenance

LGL produced very little - no profit

the key to the future operation is small scale selective extraction of high-grade quartz rather than the bulk mining method used by Lihir, and the CGT management has said "Use of selective mining methods to minimise dilution"

have a look at SLR and MCO and their very profitable activities with narrow vein mining and selective extraction